ROCKVILLE, Md., March 31, 2011 /PRNewswire/ -- EDGAR® Online, Inc. (Nasdaq: EDGR), a leading global provider of XBRL (eXtensible Business Reporting Language) software, services and data, has been granted U.S. Patent 7,917,841 entitled "System and Method for Rendering Data" on March 29, 2011. The patent covers the semantic analysis of notes to financial statements and the association of those notes to related items in a primary financial statement.
The patent recognizes and protects EDGAR Online's method for allowing the categorization and cross-referencing of data within financial documents by analyzing notes to financial statements and presenting the information in a concise format. Analysts and investors currently see the benefits of this method within EDGAR Online's I-Metrix® suite of products, a range of online solutions that provide accurate company information and detailed XBRL-tagged financials for the more than 12,000 companies that file with the U.S. Securities and Exchange Commission (SEC).
"EDGAR Online is dedicated to creating expert solutions that allow financial analysts and investors to locate, evaluate and use detailed financial information for benchmarking and research purposes," stated Stefan Chopin, chief technology officer of EDGAR Online and an inventor of the method that received the patent. "This patent issuance reinforces our commitment to improving the flow of business information."
This patent extends EDGAR Online's patent portfolio that also includes the XBRL patent, U.S. Patent 6,947,947, issued in 2005 to UBmatrix, Inc. entitled "Method for Adding Metadata to Data" and U.S. Patent 7,877,678, issued on January 25, 2011 entitled "System and Method for Rendering of Financial Data."
About EDGAR Online
EDGAR Online (Nasdaq: EDGR) is a leading global provider of XBRL data, software and services solutions that improve the flow of business information. The company's integrated portfolio of products and services for global enterprises help them create, deliver, analyze and use quality information. Thousands use the company's solutions, including U.S. public companies, mutual funds, leading financial analysts and institutional investors, as well as global regulators such as the FDIC, Banque de France, and the U.S. Securities and Exchange Commission. The company delivers its solutions, including UBmatrix® XBRL software solutions, through an extensive network of partners, including LexisNexis®, NASDAQ OMX, Oracle, PR Newswire, RR Donnelley and SAP. To learn more about EDGAR Online, visit www.edgar-online.com.
"Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events and/or our future financial performance and include, without limitation, statements regarding our future growth prospects, future demand for our XBRL business and future innovations in our data and solutions and subscriptions business. These statements are only predictions and may differ materially from actual future events or results. EDGAR Online, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Please refer to the documents filed by EDGAR Online, Inc. with the Securities and Exchange Commission, which identify important risk factors that could cause actual results to differ from those contained in forward-looking statements.
EDGAR® is a federally registered trademark of the U.S. Securities and Exchange Commission. EDGAR Online is not affiliated with or approved by the U.S. Securities and Exchange Commission.